Spain consumer price growth accelerated in February

According to the report from Ine, the annual rate of the general Consumer Price Index (CPI) for the month of February is 1.1%, one tenth higher than that registered the previous month.

The groups with the greatest positive influence on the increase in the annual rate are:

Transport, with a rate of 1.8%, two points higher than the previous month, as a result of which the prices of fuels and lubricants rise this month, while they decreased in February 2018.

Food and non-alcoholic beverages, which increased its annual variation by five tenths and placed it at 1.4%, due to the increase in the prices of vegetables, which fell last year. The decrease in the prices of fish and shellfish also has a greater influence this month than in 2018. It should be noted in this group also, although in the opposite direction, that the prices of fruit rise this month less than in February last year.

On the other hand, the groups with negative influence that stand out are:

Housing, whose rate decreases one point and a half, standing at 0.9%, due to the fall in electricity prices, compared to the increase recorded last year. It should also be noted, although in the opposite direction, the increase in the prices of heating oil, which fell in 2018.

Leisure and culture, with a variation of -1.6%, seven tenths lower than the previous month. It stands out in this evolution that the prices of the tourist packages raise this month less than in February of the previous year.

Communications, whose rate decreases more than one point, to 1.5%, because the prices of telephony and fax services rose more in 2018 than they do this month.

The annual variation rate of core inflation (general index without unprocessed foods and energy products) decreases one tenth, to 0.7%, and is four tenths below that of the general CPI. It is the lowest rate since July 2016